REGISTERED NUMBER: 07785323 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Digitalist UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T Kuisma

S V Paihonen

SECRETARY:

REGISTERED OFFICE:

26-27 Lower Woodcock Street

Castle Cary

Somerset

BA7 7BH

REGISTERED NUMBER:

07785323 (England and Wales)

ACCOUNTANTS:

Isosceles Finance Ltd

One High Street

Egham

Surrey

TW20 9HJ

FIXED ASSETS

Tangible assets

4

18,372

25,273

CURRENT ASSETS

Debtors

5

657,152

284,265

Cash at bank

26,978

47,759

684,130

332,024

CREDITORS

Amounts falling due within one year

6

(7,454,981

)

(5,813,328

)

NET CURRENT LIABILITIES

(6,770,851

)

(5,481,304

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,752,479

)

(5,456,031

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(6,752,579

)

(5,456,131

)

(6,752,479

)

(5,456,031

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 1 March 2019 and were signed on its behalf by:

T Kuisma - Director

1.	STATUTORY INFORMATION

Digitalist UK Limited is a private company, limited by shares, registered in England and Wales. The company's

registration number is 07785323. The principal place of business is 5th Floor, 8-12 Camden High Street, London,

NW1 0JH.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been

delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the

rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion

of the contract is measured by comparing the costs incurred for work performed to date to the total estimated

contract costs.

Tangible fixed assets and depreciation

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the

following rates in order to write off the assets over the estimated useful lives:

Plant & machinery 25% per annum straight line

Leasehold improvements 25% per annum straight line

Computer equipment 33% per annum straight line

Pension costs

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are

recognised in the profit and loss account when due.

Presentation currency

The accounts are presented in £ sterling.

Foreign exchange

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the

date of transaction. Exchange differences are taken into account in arriving at operating profit.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant &

Computer

improvements

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2018

13,179

8,410

8,192

29,781

Additions

-

-

1,840

1,840

At 31 December 2018

13,179

8,410

10,032

31,621

DEPRECIATION

At 1 January 2018

824

2,978

706

4,508

Charge for year

3,295

2,102

3,344

8,741

At 31 December 2018

4,119

5,080

4,050

13,249

NET BOOK VALUE

At 31 December 2018

9,060

3,330

5,982

18,372

At 31 December 2017

12,355

5,432

7,486

25,273

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

447,188

191,293

Amounts owed by group undertakings

101,193

100

Accrued income and prepayments

108,771

92,872

657,152

284,265

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

34,708

46,912

Amounts owed to group undertakings

7,376,335

5,703,066

Taxation and social security

28,738

58,417

Other creditors

15,200

4,933

7,454,981

5,813,328

7.	CONTROLLING PARTY

The controlling party is Digitalist Group plc.

Digitalist UK Ltd is a wholly owned subsidiary of Digitalist Group plc, registered office Arkadiankatu 2, P.O Box

486, FI-00101, Helsinki, Finland.